INVASA: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
INVASA
Largest movements
- Tangible fixed assets -€112,556
down €112,556 (-15.8%), from €712,556 to €600,000
- Revaluation surpluses -€117,567
down €117,567 (-18.2%), from €647,635 to €530,068
- Other debts +€15,621
up €15,621 (+2.7%), from €572,741 to €588,361
- Debts after one year -€9,956
down €9,956 (-39.9%), from €24,942 to €14,986
- Depreciation -€1,585
down €1,585 (-58.9%), from €2,694 to €1,108
- Financial charges -€384
down €384 (-17.9%), from €2,148 to €1,764
- Gross operating margin +€305
up €305 (+16.4%), from €1,855 to €2,159
- Other operating charges -€59
down €59 (-9.6%), from €617 to €558
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €714,107 | €601,419 | -€112,688 | -15.8% |
| Fixed assets | 21/28 | €712,556 | €600,000 | -€112,556 | -15.8% |
| Tangible fixed assets | 22/27 | €712,556 | €600,000 | -€112,556 | -15.8% |
| Land and buildings | 22 | €712,556 | €600,000 | -€112,556 | -15.8% |
| Current assets | 29/58 | €1,551 | €1,419 | -€132 | -8.5% |
| Cash at bank and in hand | 54/58 | €1,003 | €1,102 | +€99 | +9.9% |
| Deferred charges and accrued income | 490/1 | €549 | €317 | -€231 | -42.1% |
| Total equity and liabilities | 10/49 | €714,107 | €601,419 | -€112,688 | -15.8% |
| Equity | 10/15 | €106,954 | -€11,884 | -€118,838 | |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Revaluation surpluses | 12 | €647,635 | €530,068 | -€117,567 | -18.2% |
| Reserves | 13 | €22,238 | €22,238 | = | 0.0% |
| Distributable reserves | 133 | €22,238 | €22,238 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,162,919 | -€1,164,190 | -€1,271 | -0.1% |
| Amounts payable | 17/49 | €607,153 | €613,304 | +€6,151 | +1.0% |
| Amounts payable after more than one year | 17 | €24,942 | €14,986 | -€9,956 | -39.9% |
| Financial debts | 170/4 | €24,942 | €14,986 | -€9,956 | -39.9% |
| Amounts payable within one year | 42/48 | €582,211 | €598,318 | +€16,107 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €9,470 | €9,956 | +€486 | +5.1% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Other amounts payable | 47/48 | €572,741 | €588,361 | +€15,621 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,694 | €1,108 | -€1,585 | -58.9% |
| Other operating charges | 640/8 | €617 | €558 | -€59 | -9.6% |
| Gross operating margin | 9900 | €1,855 | €2,159 | +€305 | +16.4% |
| Operating profit (loss) | 9901 | -€1,456 | €493 | +€1,949 | |
| Financial income | 75/76B | €5 | €0 | -€5 | -100.0% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -100.0% |
| Financial charges | 65/66B | €2,148 | €1,764 | -€384 | -17.9% |
| Recurring financial charges | 65 | €2,148 | €1,764 | -€384 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,598 | -€1,271 | +€2,327 | +64.7% |
| Profit (loss) for the period | 9904 | -€3,598 | -€1,271 | +€2,327 | +64.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,598 | -€1,271 | +€2,327 | +64.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.